Linde plc (LIN)财务
NASDAQ · Basic Materials · Chemicals - Specialty · 员工64,649人 · CEO Sanjiv Lamba
- 股价
- $514.24 +2.20%
- 市值
- $2360亿
- 企业价值
- $2590亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-04 EPS预期 $4.50
营收(TTM)$362亿+8.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)26.0%-1.2 百分点 对比去年同期营业利润 $94.2亿
净利润(TTM)$70.1亿-1.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)$50.8亿+0.1% 对比去年同期资本支出 $56.3亿
稀释EPS(TTM)$15.05+0.8% 对比去年同期最近4个季度之和
净现金-$228亿-6.3% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2360亿 EV $2590亿
- 营收
- $362亿 过去12个月
- 营收增速
- +7% FY2026年一致预期
- 净利润率
- 19.3% 净利润 / 营收,TTM
- P/E
- 34.0× 预期 28.7×(FY2026)
- P/S
- 6.5× 股价 / 营收,TTM
- EV / EBITDA
- 19.5× TTM
- 自由现金流
- $50.8亿 过去12个月
- 净利润
- $70.1亿 过去12个月
- 营收预期
- $364亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $92.3亿
- 股息
- $6.30 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-29):营收超预期2.6%,EPS 超预期1.5%营收$94亿,预期$91.6亿(+2.6%);EPS $4.59,预期$4.52(+1.5%)。
- 营收增长加速:同比9.2%Q3 '26营收$94亿,此前四个季度的平均值为6.6%。
- 营业利润率26.0%(TTM),较去年同期-1.2 百分点营收增长8.2%,营业利润增长3.5%。
- 资本支出占营收的15.5%(去年为15.1%)最近4个季度投入$56.3亿(同比+11.4%)。自由现金流$50.8亿,相当于净利润的72.5%。
- 股东回报$69.3亿 = 自由现金流的136.5%回购$40.2亿(去年为$45.5亿),股息$29.1亿,股权激励$1.04亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少1.9%Q3 '26稀释股数4.63亿,一年前为4.72亿。
- 净债务 $228亿现金 + 短期投资 $39.5亿,含租赁债务 $267亿;一年前净债务 $214亿。
- Engineering Segment:营收+12.1%,利润率18.4%(此前为19.5%)Q3 '26增长最快的披露分部:营收$5.82亿,营业利润$1.07亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $94亿 | $86.2亿 | +9.2% |
| 毛利率 | 37.0% | 38.0% | -1.0 百分点 |
| 营业利润 | $21.5亿 | $23.4亿 | -8.2% |
| 营业利润率 | 22.9% | 27.2% | -4.3 百分点 |
| 净利润 | $16.9亿 | $19.3亿 | -12.3% |
| 稀释EPS | $3.66 | $4.09 | -10.5% |
| 经营现金流 | $31.7亿 | $29.5亿 | +7.5% |
| 资本支出 | $13.9亿 | $12.8亿 | +9.1% |
| 自由现金流 | $17.8亿 | $16.7亿 | +6.3% |
| R&D | $3700万 | $3600万 | +2.8% |
| 股权激励费用 | $4400万 | $4500万 | -2.2% |
实际 vs 一致预期
2026-10-29| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $94亿 | $91.6亿 | +2.6% |
| EPS(一致预期口径) | $4.59 | $4.52 | +1.5% |
来自2026-10-29发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas Segment | $36亿 | -6.4% | 42.0% | $156亿 | -15.7% | |
| EMEA Segment | $23.3亿 | +6.8% | 27.1% | $89.8亿 | -14.7% | |
| APAC Segment | $19.5亿 | +12.0% | 22.8% | $72.5亿 | +9.8% | |
| Engineering Segment | $6.93亿 | -4.8% | 8.1% | $26.6亿 | +3.2% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Americas Segment | $36亿 | +10.7% | $12.6亿 | +12.4% | 35.1% | 34.6% | $50.8亿 |
| EMEA Segment | $23.3亿 | +6.8% | $8.17亿 | +4.6% | 35.1% | 35.9% | $32亿 |
| APAC Segment | $19.5亿 | +12.0% | $5.34亿 | +9.0% | 27.4% | 28.1% | $20.4亿 |
| Corporate And Other | $9.44亿 | +2.2% | $4200万 | -32.3% | 4.4% | 6.7% | -$1300万 |
| Engineering Segment | $5.82亿 | +12.1% | $1.07亿 | +5.9% | 18.4% | 19.5% | $4.11亿 |
| Material Reconciling Items | – | – | – | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $107亿
- 资本支出
- -$56.3亿
- 股票回购
- -$40.2亿
- 股息
- -$29.1亿
- 收购
- -$4.3亿
- 债务净发行
- $15亿
- 股权激励费用
- $1.04亿
- 自由现金流
- $50.8亿
- 股东回报 / FCF
- 136.5%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 34.0× | 35.6× | 29.1× – 46.8× |
| EV / EBITDA | 19.5× | 17.7× | 16.5× – 19.3× |
| EV / 营收 | 7.1× | 6.2× | 5.3× – 6.6× |
| 股价 / FCF | 46.5× | 34.3× | 27.0× – 40.7× |
| 股价 / 净资产 | 6.0× | 4.7× | 4.1× – 5.3× |
| FCF收益率 | 2.2% | 3.0% | 2.5% – 3.7% |
| 投入资本回报率 | 9.2% | 8.0% | 5.6% – 9.3% |
| 净资产收益率 | 18.0% | 14.0% | 8.7% – 18.0% |
分析师
一致目标价 $559.55 (+8.8%)
区间 $525.00 – $583.00 · 评级 Buy
强烈买入0
买入27
持有3
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $364亿 | +7.2% | $17.91 | +22.7% | 28.7× | 16 |
| FY2027 | $381亿 | +4.7% | $19.56 | +9.3% | 26.3× | 10 |
| FY2028 | $403亿 | +5.6% | $21.55 | +10.1% | 23.9× | 9 |
| FY2029 | $433亿 | +7.6% | $24.80 | +15.1% | 20.7× | 3 |
| FY2030 | $457亿 | +5.5% | $27.17 | +9.6% | 18.9× | 3 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Linde plc在近期10-Q / 10-K文件中标记的全部297项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $28.5亿 | $26.5亿 | +7.9% | $28.1亿 | $25.1亿 | +12.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $56亿 | $53.3亿 | +5.0% | $49.7亿 | $46.2亿 | +7.4% |
| Accounts Receivable, Allowance for Credit Loss | $2.57亿 | $4.53亿 | -43.3% | $5.81亿 | – | – |
| Accounts Receivable, Allowance for Credit Loss, Current | $5.81亿2025-12-31 | $4.21亿 | +38.0% | $5.81亿 | $4.21亿 | +38.0% |
| Accounts Receivable, Allowance for Credit Loss, Noncurrent | $4100万2025-12-31 | $3600万 | +13.9% | $4100万 | $3600万 | +13.9% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $53.7亿 | $52.4亿 | +2.5% | $55.5亿 | $50.4亿 | +10.0% |
| Accounts Receivable, before Allowance for Credit Loss, Noncurrent | $3.5亿 | $3.83亿 | -8.6% | – | – | – |
| Accounts Receivable, Credit Loss Expense (Reversal) | $1900万 | $5600万 | -66.1% | $2.07亿 | $1.8亿 | +15.0% |
| Accrued Income Taxes | $4.92亿2025-12-31 | $5.35亿 | -8.0% | $4.92亿 | $5.35亿 | -8.0% |
| Accrued Insurance, Current | $2100万2025-12-31 | $2000万 | +5.0% | $2100万 | $2000万 | +5.0% |
| Accrued Insurance, Noncurrent | $6300万2025-12-31 | $6000万 | +5.0% | $6300万 | $6000万 | +5.0% |
| Accrued Salaries, Current | $6.49亿2025-12-31 | $6.18亿 | +5.0% | $6.49亿 | $6.18亿 | +5.0% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | -$1.07亿 | -$8000万 | -33.7% | -$1.04亿 | -$7900万 | -31.6% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$57.7亿 | -$65.2亿 | +11.5% | – | – | – |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$56.3亿 | -$64.1亿 | +12.1% | -$62.3亿 | -$68.9亿 | +9.6% |
| Additional Paid in Capital | $392亿 | $394亿 | -0.6% | $394亿 | $396亿 | -0.4% |
| Amortization of Intangible Assets | – | – | – | $5.17亿 | $5.54亿 | -6.7% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 55.2万 | 48.5万 | +13.8% | 57.2万 | 26.8万 | +113.4% |
| AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | $3100万 | $3400万 | -8.8% | $1600万 | -$600万 | +366.7% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $4400万 | $4500万 | -2.2% | $1.64亿 | $1.6亿 | +2.5% |
| Asset Retirement Obligations, Noncurrent | $3.18亿2025-12-31 | $3.05亿 | +4.3% | $3.18亿 | $3.05亿 | +4.3% |
| Assets | $881亿 | $860亿 | +2.4% | $868亿 | $801亿 | +8.3% |
| Assets for Plan Benefits, Defined Benefit Plan | $13亿2025-12-31 | $11.1亿 | +17.4% | $13亿 | $11.1亿 | +17.4% |
| Assets, Current | $134亿 | $133亿 | +0.6% | $133亿 | $129亿 | +2.9% |
| Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | – | – | – | -$1.64亿 | -$1700万 | -864.7% |
| Cash and Cash Equivalents, at Carrying Value | $39.5亿 | $45.1亿 | -12.5% | $50.6亿 | $48.5亿 | +4.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $39.5亿 | $45.1亿 | -12.5% | $50.6亿 | $48.5亿 | +4.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$9.51亿 | -$2.77亿 | -243.3% | $2.06亿 | $1.86亿 | +10.8% |
| Commercial Paper | $43.2亿 | $47.3亿 | -8.6% | $42.3亿 | $39.6亿 | +6.6% |
| Common Stock, Dividends, Per Share, Declared | $1.60 | $1.50 | +6.7% | $6.00 | $5.56 | +7.9% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 17.5亿 | 17.5亿 | 0.0% | 17.5亿 | 17.5亿 | 0.0% |
| Common Stock, Shares, Issued | 4.91亿 | 4.91亿 | 0.0% | 4.91亿 | 4.91亿 | 0.0% |
| Common Stock, Value, Issued | $100万 | $100万 | 0.0% | $100万 | $100万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $6400万 | $3700万 | +73.0% | $1.92亿 | $1.35亿 | +42.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $19.9亿 | $17.7亿 | +12.2% | $75.6亿 | $54.8亿 | +38.0% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $20.5亿 | $18.1亿 | +13.4% | $77.5亿 | $56.1亿 | +38.1% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $4.47亿 | $2.28亿 | +96.1% | $2.69亿 | $2.63亿 | +2.3% |
| Contract with Customer, Liability | $24.5亿 | $25.3亿 | -3.4% | $25.2亿 | $22.9亿 | +9.7% |
| Contract with Customer, Liability, Current | $11.7亿 | $12.8亿 | -8.5% | $12.3亿 | $11.9亿 | +3.1% |
| Contract with Customer, Liability, Noncurrent | $12.8亿 | $12.5亿 | +1.8% | $12.8亿 | $11亿 | +16.9% |
| Contract with Customer, Liability, Revenue Recognized | $3.78亿2026-03-31 | $3.8亿 | -0.5% | $6.31亿 | $9.93亿 | -36.5% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $49.6亿 | $43.8亿 | +13.3% | $174亿 | $171亿 | +1.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.75亿 | $4.36亿 | +8.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $18.7亿 | $16亿 | +16.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $24.5亿 | $21.4亿 | +14.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.14亿 | $1.06亿 | +7.5% |
| Debt, Long-term and Short-term, Combined Amount | $267亿 | $259亿 | +3.0% | $270亿 | $216亿 | +24.8% |
| Deferred Credits and Other Liabilities | $68.4亿2025-12-31 | $67.6亿 | +1.2% | $68.4亿 | $67.6亿 | +1.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $4600万 | $300万 | +1,433.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4.96亿 | -$1.56亿 | -217.9% |
| Deferred Income Tax Assets, Net | $4.23亿2025-12-31 | $4.28亿 | -1.2% | $4.23亿 | $4.28亿 | -1.2% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$4.65亿 | -$1.42亿 | -227.5% |
| Deferred Income Tax Liabilities, Net | $55.6亿2025-12-31 | $56.6亿 | -1.8% | $55.6亿 | $56.6亿 | -1.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1500万 | $1100万 | -236.4% |
| Deferred Tax Assets, Gross | $14.4亿2025-12-31 | $14.4亿 | 0.0% | $14.4亿 | $14.4亿 | 0.0% |
| Deferred Tax Assets, Inventory | $8700万2025-12-31 | $8700万 | 0.0% | $8700万 | $8700万 | 0.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $12.8亿2025-12-31 | $12.9亿 | -0.4% | $12.8亿 | $12.9亿 | -0.4% |
| Deferred Tax Assets, Operating Loss Carryforwards | $3.38亿2025-12-31 | $4.61亿 | -26.7% | $3.38亿 | $4.61亿 | -26.7% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $2.72亿2025-12-31 | $3.86亿 | -29.5% | $2.72亿 | $3.86亿 | -29.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01